In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

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The Market for Law

Is there a market for good law? Without the state providing law, could it be offered by multiple, private, and competing agencies? David Friedman, professor of law at Santa Clara University, explored this idea in his classic 1973 book, The Machinery of Freedom: Guide to a Radical Capitalism. But in the years since, he’s revised and strengthened some of his theories. In this talk, Friedman will offer these new ideas from the last 30 years of thinking about the market for law.